Small business insurance
Buying or renting an office is a big step for a small company – so you’ll want to make sure to protect your investment with office insurance. While commercial property insurance pays for damage to your building and belongings, you’ll likely need other policies as well.
Some types of insurance benefit every tech business. Other types cover liabilities specific to businesses with employees, offices, or other risk factors.
Companies of all sizes in the tech industry face the same basic business risks. Business insurance can help IT independent contractors protect themselves from liability.
A subcontractor could be sued for a number of reasons. Even if they’re not at fault, they could still face an expensive legal battle. Having the right kind of insurance can protect against this kind of risk. You may also need insurance to secure certain contracts, especially when dealing with government entities.
Learn how business insurance policies differ in terms of coverage, what industry factors you need to consider when shopping for insurance, and how you can compare and get the right policies and best prices for your small business.
Commercial insurance protects businesses, freelancers, and independent contractors against liability lawsuits, property damage, cyberattacks, and other risks that could devastate your company.
General liability insurance is included in a business owner's policy (BOP), a cost-saving bundle designed for low-risk businesses. General liability covers bodily injuries, damage to a customer's property, and advertising injuries. A BOP provides the same coverage, along with commercial property insurance.
Some business insurance policies are required by law. Others can help your small business stay afloat when property damage, a business interruption, or a lawsuit threatens to pull you under.
The cost of small business insurance primarily depends on which policies you buy. The most common policy, general liability insurance, has an average cost of $42 per month.
